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Parabolic interpolation based maximum power point tracking (MPPT) technique has been used in this paper to track the maximum power point (MPP) of a photovoltaic system. The proposed technique requires only one current sensor to track the MPP, which means that systems incorporating this technique will need less hardware support and will be cost effective. The proposed technique has been applied on the simulation and experimental data of a charge controller circuit and it has been found that the proposed technique requires around 50% less iteration to track the MPP than the tradition P&O method.